YouCtrl specialises in IT services for the financial departments of SMEs. In 2015 the company received an injection of know-how and capital from both Gumption and the accountancy group BOFIDI, each of which firmly believed in its potential. Thanks to this united effort, YouCtrl went on to achieve strong growth. After this successful turnaround, Gumption is now selling its shares in YouCtrl to BOFIDI.
Successful corporate venturing
YouCtrl combines strategic financial insight and extensive IT knowledge. It helps SMEs to strengthen or streamline their financial departments. “When YouCtrl joined Gumption, it was on the edge of bankruptcy”, Bart Embrechts recalls. "By investing together with BOFIDI, we were able to ensure its continuity."
In 2018, the management decided to bring in Christophe Van Olmen in order to accelerate the growth process, and he quickly succeeded in expanding the company from 5 to 35 employees. “YouCtrl is a perfect example of successful corporate venturing”, says Christophe Van Olmen. “This is the practice where a start-up enters into strategic cooperation with larger companies. The partnerships with Gumption and BOFIDI brought the company back to health.”
“BOFIDI wants to be the one-stop shop on the financial level for Flemish entrepreneurs”, says Johan Peeters, CEO of BOFIDI. "We are now underscoring this ambition by deepening the collaboration with YouCtrl."
YouCtrl is a perfect example of successful corporate venturing. This is the practice where a start-up enters into a strategic cooperation with larger companies. The partnerships with Gumption and BOFIDI brought the company back to health.
“It’s a logical next step for YouCtrl to be spreading its own wings now”, says Bart Embrechts. “As a full-fledged partner of BOFIDI, it can focus on its further growth. We’ll be staying in close contact, and naturally, we´ll still be able to take up interesting challenges together."
Christophe Van Olmen reaffirms that, substantively, YouCtrl is moving forward along the same path. “YouCtrl is the financial transformation partner for SMEs. We increase the efficiency of their financial departments. We introduce reliable digital tools that improve and simplify their bookkeeping. With CFO-as-a-service, SMEs can share an experienced finance manager with other companies. In this way, they’re bringing in a seasoned expert for a part-time budget. We are continuing to focus on achieving strong growth.”
“BOFIDI wants to be the one-stop shop on the financial level for Flemish entrepreneurs. We are now underscoring this ambition by deepening the collaboration with YouCtrl."